M&A Activity • Jul 16, 2020
M&A Activity
Open in ViewerOpens in native device viewer
Fabege AB (publ)
July 16, 2020, 08.00 am CET
Flemingsberg is currently the site of Sweden's biggest urban development project. Fabege has acquired the Regulatorn 2 property, which has a central location in the area and constitutes a key piece of the puzzle in the development of the district of Flemingsbergsdalen. In connection with the acquisition, an agreement has also been entered into with WA Fastigheter for Fabege to be the sole owner of the consortium SBD.
Fabege will continue to work with Huddinge Municipality on the vision for, and development of Flemingsbergsdalen. The approach will be based on previous work that has been carried out within the framework of the consortium, and the planning programme for Flemingsbergsdalen adopted by the local government council in April 2020. The purchase consideration amounts to SEK 760m, and ownership of Regulatorn 2 is set to be transferred on 31 August 2020.
"Flemingsbergsdalen is a major urban development project that will continue for several years, and just as with Arenastaden we are seeing the benefits of having a significant presence in the area in which we are operating. Now that the planning programme has been approved by the local government council and we are entering the next phase, it's natural for Fabege to take on a bigger role and pursue the local development plans," said Stefan Dahlbo, Fabege's CEO.
Flemingsberg is already a location that brings together approximately 15,000 residents, higher education, world-leading research, government agencies and companies. Flemingsberg is therefore designated as a regional centre and promoted as a natural hub for the infrastructure of tomorrow. With
We are the property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services - together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege's shares are listed on Nasdaq Stockholm, in the Large Cap segment. For more information, please visit us at: www.fabege.com
Fabege AB (publ)
regional and national investments already approved and the local conditions that are already in place, Flemingsberg has unique opportunities to grow and create a balance in the range of primarily workplaces between northern and southern Stockholm. The development plans for the whole of Flemingsbergsdalen cover a total of over 1 million square metres intended for housing and commercial use.
"We will work alongside the municipality to create a location where knowledge drives business, with attractive housing and innovative solutions created in partnership with educational institutions. Our excellent collaborative relationship with WA Fastigheter during the first phase of the development work, we have come a long way and together put Flemingsbergsdalen on the map, comments Klaus Hansen Vikström, CEO of the consortium.
February saw the announcement that Kungliga Operan AB (Royal Swedish Opera) and Kungliga Dramatiska Teatern (Royal Dramatic Theatre) have decided to relocate their operations from Nacka to Flemingsberg. Fabege will create the theatres' studios and workshops (including spaces for metalwork, carpentry, painting and decorating), two rehearsal rooms and costume storage in a brand new building of approximately 12,000 sqm, which is expected to be completed in 2024.
The vision for 2050 is for Flemingsberg to be one of Sweden's most significant centres for education, research and attractive housing. An inspirational hub, where innovation and collaboration promote sustainable societal development. Flemingsberg will be a natural location to establish knowledgeintensive enterprises, and a much sought-after place to live.
Fabege AB (publ)
Stefan Dahlbo, CEO, tel. +46 (0)8-555 148 10, +46 (0)70-353 18 88 Klaus Hansen Vikström, CEO of the consortium SBD and Director of Business Development Fabege, tel. +46 (0)70-239 34 81
This information is information that Fabege AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above,
We are the property company focusing on city district development and commercial properties. We develop attractive and sustainable districts with modern offices, housing and a broad range of services - together with strategic partners. Both our perspective and approach to ownership are long term and our passion is creating the right conditions for all those living, working and visiting our areas. We have a presence in a limited number of high-growth submarkets in the Stockholm region. Fabege's shares are listed on Nasdaq Stockholm, in the Large Cap segment. For more information, please visit us at: www.fabege.com
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.